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Kamereo Raises $2.1M in Funding


Kamereo, a Ho Chi Minh City, Vietnam-based provider of a B2B food-sourcing platform, raised $2.1M in funding.

The round was led by Reazon Holdings and Thoru Yamamoto, with participation form Quest Ventures.

Led by CEO and Founder Taku Tanaka, Kamereo is an online marketplace for farmers and food and beverage businesses to trade and source fresh supplies, enabing users to optimize the purchasing & sourcing processes.

The company intends to use the funds to expand operations and its business reach across the country and abroad, first in Cambodia.


Kamereo Raises $2.1M to Expand Food-Sourcing Platform


Vietnam-based B2B food-sourcing platform Kamereo has secured $2.1 million in a pre-Series B round led by Reazon Holdings and Thoru Yamamoto, CEO of Tokyo-listed B2B firm Foodison. Quest Ventures also participated in the funding round.

Founded in 2019, Kamereo facilitates online marketplace transactions between farmers and food and beverage businesses, focusing on fresh supplies.

With the new funding, the company plans to expand its presence within Vietnam, particularly in Hanoi and aims to enter the Cambodian market. Additionally, Kamereo will use part of the funds to develop its consumer retail business, selling ready-to-eat salads through supermarkets and convenience stores.


Vietnamese Food Sourcing Platform Kamereo Bags $2.1M in Pre Series B Funding

TechNode Global

Vietnam-based business to business (B2B) food sourcing platform KAMEREO announced Wednesday that it has raised $2.1 million in Pre Series B funding.

The firm said in a statement that the round is co-led by Reazon Holdings, Inc., Quest Ventures, and Thoru Yamamoto, Chief Executive Officer of FOODISON, B2B seafood supply chain company listed in Japan.

KAMEREO is a platform owns vegetable and fruit collection centers in the upstream of supply chain to directly work with its partner and contract farmers.

The platform serves over 3,000 businesses in Vietnam.

It is noted that the firm successfully overcame the nationwide lockdown in Vietnam until the 3rd quarter of 2021 and since then has been able to significantly grow its business and improve profitability.

Its customer base extends beyond restaurants to include supermarkets, convenience stores, factories, schools, hospitals, and more.

The firm continues to expand its product offerings to establish a system capable of meeting customers’ needs comprehensively.

While in developed countries such as Japan or the United States, major wholesale companies and agricultural cooperatives dominate the food supply chain, in Vietnam, such players are absent, and the market is primarily composed of many individual dealers.

With a market of $100 billion with a compound annual growth rate (CAGR) over 5 percent and no clear market leaders or winners, there is room for KAMEREO to become a major player in the industry.

James Tan, Managing Partner of Quest Ventures, said that KAMEREO is well-positioned to tap into the large wholesale and cooperatives potential in Vietnam.

“The food supply chain in Vietnam is highly inefficient due to its complex structure and the small scale of operators. KAMEREO has built an impressive infrastructure to provide customers with an affordable and reliable supply of vegetables and fruits,” he added.


Vietnam’s B2B food sourcing platform Kamereo lands US$2.1M funding


Kamereo intends to use the funding to strengthen its sales team, increase the range of products and private brands, and expand its warehouse network.

Kamereo, a food supply B2B e-commerce business based in Vietnam, has raised US$2.1 million in a funding round co-led by Reazon Holdings, Quest Ventures, and Thoru Yamamoto (CEO of Japanese B2B seafood supply chain compny FOODISON).


KAMEREO Secures $2.1 Million Funding Boost To Revolutionize Vietnam’s Food Supply Chain


KAMEREO, Vietnam’s pioneering B2B food sourcing platform, is set to transform the country’s culinary landscape following a substantial investment of $2.1 million in pre-Series B funding.

Since its inception in 2019, KAMEREO has experienced a remarkable average annual sales growth rate of over 300%, solidifying its position as a key player in Vietnam’s food supply B2B e-commerce sector.

The recent funding round, co-led by Reazon Holdings, Inc., Quest Ventures, and Thoru Yamamoto, CEO of FOODISON, marks a significant milestone for the company, bringing its total funding to $7.2 million.

KAMEREO plans to use the new funds to strengthen its sales team, expand its product variety and in-house brands, and grow its warehouse network. This will help it better serve its growing customer base with a wider range of options.

In a market valued at $100 billion with a Compound Annual Growth Rate (CAGR) exceeding 5%, Vietnam presents immense opportunities for KAMEREO to emerge as a dominant force. Unlike developed countries, where major wholesale companies and agricultural cooperatives dominate the food supply chain, Vietnam’s market landscape comprises numerous individual dealers, leaving ample room for disruption and innovation.

James Tan, Managing Partner of Quest Ventures, highlighted KAMEREO’s ability to address inefficiencies in Vietnam’s food supply chain, underscoring its position to tap into untapped wholesale and cooperative markets. “KAMEREO has built an impressive infrastructure to provide customers with an affordable and reliable supply of vegetables and fruits,” James said.


Foodtech startup Kamereo secures $2m pre-Series B funding


Vietnam-based foodtech startup Kamereo has raised $2.1 million in a pre-Series B funding round anchored by Japan-based Reazon Holdings and B2B firm Foodison CEO Thoru Yamamoto, according to an announcement.

The funding round, which was also backed by China-based venture capital investor Quest Ventures, will be used to further expand the Ho Chi Minh-based B2B food-sourcing platform in Vietnam.

Kamereo was founded in 2018 by Japanese expatriate Taku Tanaka, who was the COO at PE firm Mekong Capital-backed restaurant chain Pizza 4Ps.

The firm had earlier raised $4.6 million in its Series A round led by Thai conglomerate Charoen Pokphand’s CPF Group, Quest Ventures, and Genesia Ventures. In 2019, the startup raised a $500,000 seed round led by Genesia Ventures, with participation from Velocity Ventures Vietnam.

The startup claims it was the country’s first B2B food platform to use technology to optimise sourcing and purchasing between buyers and farmers.


Vietnamese food-sourcing firm raises $2.1m after hitting profitability in 2023

Tech in Asia

Kamereo, a B2B food-sourcing platform, has raised US$2.1 million as it aims to secure market leadership in its home country of Vietnam.

The fresh funds were raised in a pre-series B round, led by Japan-based Reazon Holdings and Thoru Yamamoto, who is the CEO of Tokyo-listed B2B firm Foodison. China-based VC firm Quest Ventures also participated in the funding round.

Since its inception in July 2019, Kamereo has aimed for profitability. It achieved the feat in early 2023, its CEO and founder Taku Tanaka told Tech in Asia.

“This improvement stems from various kaizens, or continuous improvements in Japanese, undertaken daily by our team,” he added. These include doubling down on direct purchases from producers and enhancing the firm’s operational capacity.


The Entrepreneur Series – Anqi Liu, Partner – Metaverse Fund, Quest Ventures

Her Entrepreneur

Anqi Liu, a prominent Partner at the Metaverse Fund of Quest Ventures, has carved a niche for herself in the venture capital realm, specializing in metaverse and blockchain technology. Her journey, marked by impactful roles showcases her versatility and leadership. Anqi’s unique position as the only management associate seconded from Beijing to Singapore highlights her ability to manage stakeholder engagements across levels.

We had the privilege of speaking with Anqi about her journey, her approach to venture capital, and her insights on leadership and the future of technology. Here’s what she shared with us:

Can you share your journey from being in your entrepreneurship days to becoming a Partner for the Metaverse Fund at Quest Ventures?

“During my time at university, I was not just focused on academics; I was deeply involved in entrepreneurial activities. I founded a startup. Managing this startup, overcoming challenges, and eventually leading it to a successful exit, were my initial steps into the business world. This experience was instrumental in shaping my understanding of business dynamics, team management, and the importance of creating value for customers.

After university, I went to Europe to do investments. This was a significant shift as it allowed me to deepen my understanding of global markets, especially in emerging sectors like cryptocurrency and blockchain. It wasn’t just about managing funds; it was about foreseeing future trends, understanding technological advancements, and making informed decisions. This period was crucial in shaping my investment philosophy and understanding the broader impact of technology on traditional industries.

Joining Quest Ventures as a Partner was a natural culmination of my past experiences and my deep-rooted passion for emergent technologies, particularly within the Web3 domain. My role at Quest Ventures is multifaceted but centers around identifying and empowering entrepreneurs who are pioneering the Web3 space. At Quest Ventures, I am not just investing in companies; I am investing in the future of the internet, ensuring it remains a dynamic, inclusive, and transformative force in our lives.”

How did your experiences shape your approach to venture capital investment?

“I have a very multinational background. I was born in China, raised in Singapore, received my bachelor’s degree in Australia and worked in Europe.

Returning to Singapore, I brought with me a tapestry of global experiences, which now inform my approach to venture capital investment at Quest Ventures. I leverage my multicultural background and international experiences to connect with entrepreneurs from diverse origins, understand their unique challenges, and evaluate their global market potential.

In venture capital, understanding the entrepreneur’s vision and the startup’s cultural context is as crucial as evaluating its financial metrics and business model. My journey, spanning continents and cultures, has shaped me into a venture capitalist who values diversity, embraces global perspectives, and champions innovative solutions that have the potential to make a worldwide impact.”

What were some of the key leadership lessons you learned that you apply in your current role?

“Throughout my leadership journey, from being a student leader back in the days at Raffles, to being the Chairman for NCC’s Cadet Officer Council then to my leadership roles in work, I’ve distilled invaluable leadership lessons that are pivotal in my current role. Adaptable leadership has been fundamental; understanding that each team and project may require a different approach has allowed me to tailor my leadership style to meet diverse needs effectively. This flexibility enhances team dynamics and project outcomes.

Simultaneously, I’ve embraced a visionary yet pragmatic approach, balancing big-picture thinking with grounded execution. This balance ensures that our investments are not only innovative but also viable and sustainable. Communication has been another cornerstone; fostering transparency and understanding within teams and with our entrepreneurs ensures that we are aligned and can navigate challenges more efficiently.

Continuous learning and humility have guided my professional development; acknowledging that there is always more to learn has kept me open to new perspectives and has fostered an environment of growth and innovation within our team. Lastly, resilience and perseverance have been my anchors. The venture capital landscape is fraught with uncertainties and challenges; maintaining resilience has been crucial in navigating these, ensuring we remain committed to our goals despite setbacks.

These leadership lessons, cultivated from a tapestry of global experiences, are integral to my approach at Quest Ventures, guiding our strategies, interactions, and investments towards fostering a culture of innovation, respect, and success.”

How has your background in commerce influenced your investment strategies in the tech and metaverse (Web 3) sectors?

“My commerce background has deeply influenced my investment approach in the tech and web 3.0 sectors. It’s equipped me with essential tools for financial assessment and understanding market dynamics, crucial for identifying viable and potentially successful startups. Risk management principles guide my decisions in these volatile areas, while a global perspective aids in recognizing opportunities beyond local markets. Essentially, this educational foundation supports strategic, informed investment choices, balancing innovation with market readiness and financial health.”

How do you think discipline and competitiveness in sports translate to the business world?

“My time on the Raffles Junior College canoeing team profoundly impacted my professional approach, teaching me valuable lessons in discipline, teamwork, and competitiveness that are directly applicable to the business world.

Discipline learned from rigorous training schedules has translated into meticulous planning and execution in the tech and venture capital sectors. Teamwork, a necessity in canoeing, parallels the collaborative nature of successful business ventures, where synergy and shared goals drive success. Competitiveness from sports has fostered a drive for excellence and innovation in my career, pushing me to stay ahead in the fast-evolving market.

Moreover, the resilience and strategic thinking required in canoeing have been essential in overcoming business challenges and making informed investment decisions. Together, these sports-derived qualities have shaped my approach to navigating the complexities of the tech and venture capital landscape.”

How do you see the importance of community in the tech and venture capital ecosystem?

“In the tech and venture capital ecosystem, community is not just important; it’s indispensable. It fosters collaboration, innovation, and support among entrepreneurs, investors, and other stakeholders.

Collaboration: The tech community thrives on collaboration. Ideas are shared, refined, and evolved through interaction. A strong community facilitates partnerships that combine different strengths and perspectives, leading to innovative solutions and successful ventures.

Support and Mentorship: The journey of entrepreneurship and investment is fraught with challenges. A supportive community offers a safety net, providing guidance, mentorship, and resources. For investors and startups alike, having a network to lean on can be the difference between failure and success.

Knowledge Sharing: In the rapidly evolving tech sector, staying informed is crucial. Communities act as hubs for knowledge exchange, keeping members up to date on trends, technologies, and best practices. This shared learning is vital for maintaining competitiveness and fostering industry growth.

Access to Opportunities: A vibrant community opens doors. For startups, it can mean access to funding, partnerships, and talent. For investors, it’s a source of promising ventures and collaborations. The community acts as a marketplace for opportunities, where relationships built on trust can lead to mutually beneficial outcomes.

In essence, the community in the tech and venture capital ecosystem is the backbone of innovation and growth. It’s where connections are made, support systems are built, and the groundwork for future success is laid.”

How do you balance your professional responsibilities with your personal passions?

“Balancing professional responsibilities with personal passions like photography, traveling, and diving involves intentional planning and boundary setting. I schedule dedicated time for these activities, similar to how I schedule work meetings, ensuring they’re a non-negotiable part of my life. Integrating these passions with my professional life, such as utilizing travel opportunities for networking, allows me to blend both worlds seamlessly.

My work, involving meeting new people and engaging conversations, also fuels my passion, making professional and personal satisfaction intertwined. Establishing clear boundaries ensures my downtime is respected, allowing me to fully engage in my hobbies and return to work recharged.

In essence, deliberate scheduling, respecting personal time, and finding joy in work enable me to maintain a healthy, fulfilling balance between my professional responsibilities and personal passions.”

What are some emerging trends in the metaverse (Web 3.0) and tech space that you are excited about?

“The intersection of AI and Web 3.0 is particularly fascinating and holds transformative potential for our digital future. AI can enhance Web 3.0 technologies by improving the efficiency and security of blockchain networks, enabling smarter, more adaptive smart contracts, and providing advanced analytics for decentralized applications (dApps). This synergy between AI and Web 3.0 can lead to more intelligent, autonomous, and personalized web experiences, marking a significant evolution in how we interact with the internet.

Furthermore, the integration of cryptocurrency into our daily lives is a trend I am closely monitoring and enthusiastically supporting. Cryptocurrencies are moving beyond investment vehicles to become fundamental elements of digital commerce and finance. We’re seeing an increasing number of businesses, from small local cafes to multinational corporations, accepting cryptocurrencies as payment methods. This trend is facilitated by improvements in transaction speed, security, and user-friendliness, making cryptocurrencies a more viable option for everyday transactions.

In addition, cryptocurrency is playing a crucial role in enabling financial inclusion. By providing access to financial services without the need for traditional banking infrastructure, cryptocurrencies can empower millions worldwide, especially in underbanked or unstable economies. This aligns with the decentralized ethos of Web 3.0, promoting a more accessible, equitable digital economy.

The convergence of AI, Web 3.0, and cryptocurrency is not just reshaping our online interactions but is also paving the way for a more integrated, efficient, and inclusive digital world. I am excited to be part of this journey, exploring and contributing to the development of these technologies as they become increasingly woven into the fabric of our daily lives.”

What advice would you give to young professionals aspiring to make a mark in the venture capital and tech industries?

“For those aspiring to make a mark in the venture capital and tech industries, start by building a strong knowledge base in business, finance, and technology. Continuously stay informed about the latest trends and innovations, as the landscape evolves rapidly. Contribute and give back to the community to build meaningful relationships. Value diversity, as different perspectives foster innovation and growth. Lastly, cultivate resilience; the journey is filled with challenges, and the ability to bounce back and learn from setbacks is invaluable.”

Considering your journey, what advice would you offer individuals aspiring to build successful careers in challenging industries?

“Reflecting on my journey, the path to success in any challenging industry is both diverse and personal. Here’s what I’ve learned: Firstly, don’t hesitate to try new things. The unfamiliar can be daunting, but it’s also where growth happens. Stepping out of your comfort zone can lead to unexpected opportunities and insights.

Stay open to new ideas, perspectives, and challenges. This openness will not only enhance your adaptability but also enrich your professional and personal life. It allows you to embrace change, an inevitable part of any industry, and to innovate and improve continuously.

It’s important not to let stress overshadow your ambitions. While some pressure is inevitable, finding effective ways to manage stress will keep you focused and productive. Remember, well-being is crucial to sustaining long-term success.

Find joy in what you do. Passion is a significant motivator and can make even the most challenging tasks more bearable and fulfilling. When you enjoy your work, it reflects in your performance and relationships with others.”

What’s your advise for female entrepreneurs and leaders taking on leadership positions?

“To my fellow female entrepreneurs and leaders stepping into leadership positions, my journey has taught me valuable lessons that I hope can guide and empower you in your endeavors:

Embrace Your Unique Perspective: As women, we bring unique insights and approaches to the table. Value your perspective and use it to shape your leadership style and decision-making. Diversity in thought leads to innovation and more comprehensive solutions.

Build a Supportive Network: Surround yourself with mentors, peers, and teams who support and challenge you. A strong network can provide guidance, feedback, and encouragement, which are crucial for navigating the complexities of leadership and entrepreneurship.

Assert Your Presence: Be confident in your abilities and decisions. It’s important to assert yourself in meetings, negotiations, and decision-making processes. Your voice is valuable – ensure it’s heard.

Stay True to Your Values: Integrity and authenticity resonate with people. Stay true to your core values and let them guide your actions and decisions. Authentic leadership fosters trust, respect, and loyalty among your team and stakeholders.

Balance Assertiveness with Empathy: Effective leadership requires a balance between assertiveness and empathy. While it’s important to be decisive and direct, also strive to understand and address the needs and concerns of your team and clients.

Prioritize Self-Care: Leadership can be demanding. Remember to take care of yourself both physically and mentally. A healthy work-life balance not only improves your well-being but also enhances your effectiveness as a leader.

Challenge Stereotypes: As female leaders, we often face stereotypes and biases. Use your position to challenge these misconceptions by demonstrating competence, resilience, and leadership. Moreover, support other women by providing opportunities and advocating for their growth and recognition.

Remember, leadership is a journey, not a destination. Continue to learn, adapt, and grow.”

How do you think HER Entrepreneur can help unite and inspire more women entrepreneurs and leaders to grow and lead, while referring businesses to each other?

“HER Entrepreneur plays a critical role in uniting and inspiring women entrepreneurs and leaders by fostering a supportive community that encourages growth, leadership, and mutual support. This platform can serve as a catalyst for women to empower each other, share insights, and foster collaboration. By creating a strong, interconnected community, HER Entrepreneur enables women to network effectively, share experiences, and learn from each other. This network becomes a powerful resource for personal and professional development, helping women to navigate the challenges of entrepreneurship and leadership. The platform can highlight successful female entrepreneurs and leaders, providing role models and inspiring more women to pursue their entrepreneurial and leadership ambitions. By showcasing their stories, HER Entrepreneur helps to break stereotypes and encourage a more inclusive business environment. HER Entrepreneur can promote a culture of collaboration and mutual support, encouraging members to refer business to each other. This not only helps in growing individual businesses but also strengthens the overall ecosystem, creating more opportunities for women-led ventures. By providing resources, support, and a platform for expression, HER Entrepreneur empowers women to take bold steps in their business and leadership journeys. This empowerment fosters confidence, which is crucial for successful entrepreneurship and effective leadership.

In conclusion, HER Entrepreneur has the potential to be more than just a platform; it can be a movement that unites, inspires, and propels women entrepreneurs and leaders forward. By fostering a community of support, learning, and collaboration, HER Entrepreneur can help women not only to grow their businesses but also to become trailblazers in their industries, creating a ripple effect that encourages more women to lead and innovate.”

Anqi Liu’s insights shed light on her journey from an entrepreneurial student to a Partner at Quest Ventures, her multicultural approach to venture capital, and her invaluable leadership lessons. Her perspective on the importance of community, balancing professional and personal life, and her advice for aspiring professionals and female entrepreneurs offer a rich narrative for those navigating the complexities of the venture capital and tech industries.


Quest Ventures partners with NDC to bring Venture Capital Accelerated program back to Manila

The Independent Investor

Singapore-based venture capital firm Quest Ventures collaborates with the National Development Company to bring its Venture Capital Accelerated (VCA) program back to Manila. Scheduled for the 12th of April from 9am to 5pm at the Philippine Innovation Hub in Makati City, the VCA program is a fast-track 1-day in-person flagship program that introduces aspiring venture capitalists, angel investors, entrepreneurs, and investment managers to the fundamentals of venture capital.

Drawing from their network and years of experience in venture capital, Quest Ventures’ VCA program will use interactive sessions and detailed modules to simplify the complexities of venture capital deals and startup financing. Topics will include the basic economics of venture capital, the functioning of the venture capital industry, the fundraising process for startups, and the development of an investment thesis consistent with one’s investment goals and strategy.

Lead Instructor James Tan, Managing Partner at Quest Ventures, co-founded 55tuan, a NASDAQ-listed e-commerce group in China, and serves as advisor and board member for organizations like the Applied Innovation Institute, Action Community for Entrepreneurship (ACE), and Business Angel Network of Southeast Asia (BANSEA). Course Curator Paris de l’Etraz, with 20 years in investment banking and venture capital at UBS Bank and ABN AMRO, currently directs the Venture Lab at IE Business School and chairs the Applied Innovation Institute.

Prior to coming to Manila, Quest Ventures will also bring the VCA program to Ho Chi Minh City, Vietnam on March 29.

A limited number of scholarships are available for outstanding young professionals to participate in the program this year. Interested individuals are encouraged to apply before April 1, 2024, 23:59 GMT +8.


‘HUGgy’ng innovation: Dolbomdream’s tech vest aims to bridge mental healthcare gap


Studies have shown significant wait times of one to five years for treatment for individuals with developmental disabilities such as autism, who might be struggling with a high-level of anxiety and sensory challenges. This underscores a critical challenge in the field: a heavy reliance on human resources, which can limit access to timely care for those who need it most.

A South Korean social venture aims to address this challenge with a unique product. Dolbomdream has developed the HUGgy vest, designed to improve the quality of life. The vest utilises Deep Touch Pressure (DTP) to provide the calming effect of a hug for individuals with developmental disabilities. This aims to alleviate stress and anxiety, potentially contributing to a new paradigm in mental healthcare.

Dolbomdream specialises in mental healthcare solutions, offering the HUGgy smart care vest to address sensory challenges. Utilising DTP technology, the vest mimics the calming effects of a hug, fostering psychological stability. Equipped with inflatable technology and biometric sensors, the vest can monitor the user’s psychological state.

The HUGgy vest provides a lightweight alternative to traditional weighted vests, enhancing comfort and mobility. It benefits autistic individuals and has potential applications in supporting seniors and sleep disorder patients.

The vest features non-contact biometric sensors for heart rate monitoring, relaying data to caregivers through a dedicated app for real-time analysis.

In February 2024, Dolbomdream received undisclosed seed funding from Quest Ventures, advancing its goal to become the top mental healthcare provider by 2030. To achieve this, it is focused on developing an integrated management system that harnesses biometric data to enhance treatment outcomes for disabled individuals.


Quest Ventures backs IoT hugging vest maker Dolbomdream


South Korean startup Dolbomdream, which develops IoT-powered hugging vests, has secured undisclosed seed funding from Quest Ventures.

The company will use the funds for Southeast Asia expansion.

Kim Jihun, CEO of Dolbomdream, said, “Our collaboration with Quest Ventures is crucial in solidifying our expansion plans in Southeast Asia, which include building our network with local partners and conducting pilot tests to ensure the successful integration of their products in the regional market.”

DolbomDream develops smart HUGgy vests that incorporate research-backed Deep Touch Pressure technology to simulate the effect of hugs on wearers to provide psychological comfort to its wearers. The vests analyse wearers’ biometric data to give caregivers real-time analysis of their psychological status through an app, which can also activate the vest.

The target customers include special needs individuals, seniors, sleep disorder patients, and anyone who might benefit from the therapeutic power of a hug.

The product is particularly beneficial for special needs individuals with conditions such as Autism Spectrum Disorder (ASD), who frequently grapple with heightened stress levels in their daily lives.

The vest also features non-contact biometric sensors that measure the wearer’s heart rate and other biometric data. The data is relayed to caregivers through a dedicated app, who obtain a real-time analysis of the wearer’s psychological condition. The app can also be used to activate the vest remotely.


Quest Ventures Funds Dolbomdream’s IoT Hugging Vest Expansion in Southeast Asia

Startup Story

Quest Ventures has provided undisclosed seed funding to South Korean startup Dolbomdream, which specializes in developing IoT-powered hugging vests. The investment aims to support Dolbomdream’s expansion into Southeast Asia. According to Kim Jihun, CEO of Dolbomdream, the collaboration with Quest Ventures is pivotal for the company’s expansion plans in Southeast Asia. He emphasized the importance of building networks with local partners and conducting pilot tests to ensure successful integration of their products in the regional market.

Dolbomdream’s flagship product is the smart HUGgy vest, designed to incorporate research-backed Deep Touch Pressure technology. This technology simulates the effect of hugs on wearers, offering psychological comfort. The vests analyze wearers’ biometric data to provide real-time analysis of their psychological status through a dedicated app. Additionally, caregivers can activate the vest through the app.

The target customer base for Dolbomdream’s hugging vests includes special needs individuals, seniors, sleep disorder patients, and anyone who might benefit from the therapeutic power of a hug. Specifically, the product is beneficial for individuals with conditions such as Autism Spectrum Disorder (ASD), helping them cope with heightened stress levels.

The hugging vest features non-contact biometric sensors to measure the wearer’s heart rate and other biometric data. This data is transmitted to caregivers through the dedicated app, enabling them to monitor the wearer’s psychological condition in real-time. Moreover, caregivers can remotely activate the vest using the app.


Quest Ventures invests in South Korea’s Dolbomdream


Dolbomdream, a South Korean company specializing in the production of a compression garment supporting individuals with special needs, has secured an undisclosed amount of seed funding from Quest Ventures.

Known as Huggy (stylized as “HUGgy”) vests, Dolbomdream’s product is aimed at providing benefits to individuals with special needs, particularly those with conditions like Autism Spectrum Disorder (ASD). It utilizes a “Deep Touch Pressure” technology to replicate the comforting sensation of hugs, thereby stimulating the wearer’s parasympathetic nervous system to alleviate heightened stress levels. Each Huggy vest is equipped with non-contact biometric sensors to continuously monitor the wearer’s heart rate and other biometric data, enabling caregivers to stay informed in real-time about the wearer’s psychological state. Additionally, the vests can be remotely activated using a complementary app.

“Our collaboration with Quest Ventures is crucial in solidifying our expansion plans in Southeast Asia, which include building our network with local partners and conducting pilot tests to ensure the successful integration of their products in the regional market,” said Kim Jihun, CEO of Dolbomdream.

“[Dolbomdream’s] high-performance vests elevate the standard of care for special needs individuals and provide peace of mind to their caregivers,” said James Tan, managing partner of Quest Ventures.


Top Venture Capital Firms in Singapore 2024

Startup Savant

In this guide, we’ll highlight the top venture capital firms in Singapore that aren’t just the finance powerhouses of the region but also have a proven track record of backing the brightest and most innovative startups.

In the next section, we’ll walk through a list of some of the best Singaporean VC firms, picked based on their investment portfolio, successful startups they’ve helped fund, industry focus, and overall reputation.

With an investment focus on the flourishing digital economy across Asia, Quest Ventures stands at the cutting edge of technological innovation. From artificial intelligence to ecommerce, their portfolio shows a diverse range of startups making waves in their respective markets.

Backed by a commitment to social initiatives and industry transformation, Quest Ventures gives startups not just funding but also a platform for creating meaningful impact.


The not-so-secret pet economy

The Edge Singapore

The cat’s out of the bag: Venture capitalists and savvy investors have uncovered the next booming market — the business of pampering pets.

According to a Bloomberg Intelligence report, the global pet industry is expected to grow to US$500 billion ($670.43 billion) by 2030, from US$320 billion as of March 2023. The growth is attributed to a growing global pet population and the premiumisation of food and services from the humanisation of pets. The US will likely remain the largest pet market in the world, with sales approaching US$200 billion by the end of the decade.

Another report by Morgan Stanley, dated March 3, 2021, notes that the pet sector could become a long-term trend, with the industry expected to reach US$275 billion by 2030 from US$100 billion in 2021.

James Tan, managing partner at Quest Ventures, notes that the demand for pet-related products and services will rise as more people in Southeast Asia see their pets as family members. One of the companies backed by the Asian venture capital firm is ZumVet Singapore, which provides a one-stop service for pets — from veterinary (vet) teleconsultations to test kits and over-the-counter (OTC) medication and accessories.

“The pet industry as a whole has grown. It grew during the Covid-19 pandemic, and by all estimates, did not shrink back to pre-pandemic levels after we emerged from it,” says Tan on the industry’s growth potential.

In his view, all aspects of the pet sector are “interesting”.

“Compelling sub-sectors emerge from time to time, and, depending on factors such as the readiness of technology, prerequisites and adoptions, [there will be] a rapid or slow emergence of these sub-sectors,” he adds.


Top 6 Venture Capital Firms in Kuala Lumpur in 2024


The venture capital ecosystem in Kuala Lumpur has undergone major growth over the last decade.

In this article, you will find some of the top venture capital firms in Kuala Lumpur investing across various sectors and industries.

Quest Ventures joins 500 Startups, Gobi Partners, Cradle Fund, NEXEA Venture Capital, and Acadian Ventures as the “top 6 venture capital firms in Kuala Lumpur”.


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